First, let me share or plead ignorance, thus seeking enlightenment.
Debt = the state of owing something. Typically a monetary value with some worth. However, it could be intangible such as gratitude.
Global debt has grown to $315 trillion this year — here’s how we got here by CNBC (May 29, 2024)
https://www.cnbc.com/2024/05/29/global- … -2024.html
Key Points
** The world is mired in $315 trillion of debt, according to the latest May report by the Institute of International Finance.
** This latest global debt wave has been the biggest, fastest, and most wide-ranging rise since World War II, coinciding with the Covid-19 pandemic.
Brief article with two videos
** How the World got into $315 Trillion of Debt
** Is a global debt crisis coming?
"Around two-thirds of the $315 trillion owed originates from mature economies, with Japan and the United States contributing the most to that debt pile."
Around two-thirds of the $315 trillion owed originates from mature economies, with Japan and the United States contributing the most to that debt pile.
However, the debt-to-GDP ratio for mature economies — which is seen as a good indicator of a country’s ability to service its debts — has been falling in general.
On the other hand, emerging markets held $105 trillion in debt, but their debt-to-GDP ratio hit a new high of 257%, pushing the overall ratio up for the first time in three years.
China, India and Mexico were the biggest contributors, the report noted."
There you have it. That is what I know today.
One question: Are we preparing the future generations to the realities of debt with its responsibilities?
Thoughts, criticisms, accolades, and/or commentary?
I feel worried about these mounting debt financings. Why do Governments go on basing their budgets on debt funding? It can collapse the economy with any single oversight.
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